My parents set up a living trust. When Mom died the Fact of the trust was realized and appreciated.First, the trust may own your property but you control the trust. You also get to stipulate what the trust can or cannot do. The trust does not eliminate the need for a will but is in addition to a will.A good lawyer can explain it better. The saving realized from not having to fork out probate fees was more than enough to pay for setting up the trust.Again, agood lawyer can help you more than a Fool like me. The best advice is to investigate. Nothing ventured, nothing learned>
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